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ISY's first contract - Blackwoods

  1. I hold ISY so it was no bad thing to read this announcement yesterday:

    Australian Stock Exchange Limited ELS006.2003
    Company Announcement Office
    Electronic Lodgement System

    18 July 2002

    Dear Sir/Madam

    J. BLACKWOOD & SON LTD

    The Board of Directors of IPT Systems Limited (“IPT” or “the Company”) is pleased to report to
    shareholders that the Company’s wholly owned subsidiary, Synergy Business Solutions Australia
    Pty Ltd (“SYNERGY”), has formally executed a contract to provide a Purchase Order Delivery
    Solution for J. Blackwood and Son Ltd (“Blackwoods”), a division of the Wesfarmers Group.
    As previously reported in the Third Quarter Activities Report for the period ended 31 March 2002
    (as announced to the ASX on 30 April 2002), SYNERGY management continues to focus on
    offering commercial solutions to groups of companies where conversion to paperless transaction
    and settlement systems will yield the greatest operational and financial gains for those
    organisations. As a result of the adoption of this strategy, SYNERGY is targeting vertically and
    horizontally integrated conglomerates and diversified companies both at a national and
    international level. Blackwoods is such a company. The contract will allow the Blackwoods
    organisation to leverage off SYNERGY's technological and organisational expertise. i.e. by
    providing a business solution that can be transferred to other business units within the group, thus
    allowing for cross-enterprise costs savings, improved customer ownership and retention as well as a
    range of other benefits.

    The Blackwoods organisation commercial requirement of the Purchase Order Delivery Solution is
    to facilitate the “purchase order delivery process” between Blackwood’s branches and their
    wholesale suppliers. Purchase orders created by Blackwood’s branches are delivered to
    Blackwood’s suppliers via the SYNERGY DataCentre using SYNERGY TradeCentre components
    in real time, with order delivery confirmation and error reporting.

    SYNERGY in conjunction with Blackwoods and the Deloitte Touche Tohmatsu Management
    Solutions Team, defined the scope and functional specification of the Purchase Order Delivery
    Solution. This included analysis of the Blackwoods group business requirement, impact on existing
    process and methodology for exchange of data between its Enterprise Resource Planning (“ERP”)
    system (“Backoffice”) and the SYNERGY TradeCentre.

    Pre-development, development and pre-operational verification of the Purchase Order Delivery
    Solution is scheduled for user (Blackwoods) acceptance signoff by Friday 23 August 2002,
    thereafter rollout to Blackwood’s branches commences. SYNERGY is being paid a commercial fee
    for development services.

    The generation of Blackwood’s transaction revenue to SYNERGY for the Purchase Order Delivery
    Solution, will commence post user acceptance signoff by Blackwoods. Initial estimates indicate the
    Blackwoods group will process approximately 900,000 transactions per annum. Furthermore, as
    supply chain integration across the Blackwoods group progresses and additional functionality from SYNERGY is introduced, significant transaction growth is anticipated.

    The revenues from this contract will assist SYNERGY in its stated aim to reduce the rate of
    depletion of its cash reserves.

    Yours faithfully

    Ronald Moir
    MANAGING DIRECTOR

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